COPENHAGEN, Denmark, June 15, 2015 /PRNewswire/ --
Milestone Systems, the open platform company in IP video management software (VMS), is again ranked as the number one worldwide VMS vendor by company revenue in newly-published market research from business information provider IHS Inc. (NYSE: IHS).
"We are proud that Milestone Systems continues to hold this top global position in the security market - for more than a decade now. It takes a lot of hard work, both from our own employees and from the thousands of great partners we support around the world," said Lars Thinggaard, President & CEO, Milestone Systems.
A major finding in this report is that product demand will continue to grow quickly, and the world market for video surveillance equipment will be worth $15.7 billion in 2015. Price erosion is impacting the growth rates, but customer demand is increasing significantly.
"We are not seeing the same level of price erosion for VMS as in the camera market segment," said Jon Cropley, principal analyst for video surveillance at IHS.
This underscores the fact that video management software functions as the core of a surveillance system, like the 'brain' of the solution - especially if it is open platform architecture that interconnects and manages components from many different providers. Milestone's VMS is future-ready for expanding with ongoing innovations in security and other business solutions.
Mobile applications are ramping up in usage rapidly with valuable benefits for first responders and roving security, managers or other personnel. Smartphones and mobile technology have been the defining technologies for the beginning of the 21st century. These days about half of the adult population worldwide owns a smartphone, and by 2020 the number is expected to increase to 80%.
"The widespread adoption of smartphones means that most of us are carrying super computers in our pockets, and VMS user preferences are fast following suit," said Kenneth H. Petersen, Chief Sales & Marketing Officer, Milestone Systems. "With the Milestone Mobile client we offer Video Push that enables a smartphone or tablet to act as a mobile security camera, essentially adding another set of virtual eyes where no other camera is in place. This is extremely popular in all segments of our customer base, both in the low-complexity and lower camera count installations as well as in the advanced, high camera count solutions."
About Milestone Systems
Milestone Systems is a global industry leader in open platform IP video management software, founded in 1998 and now operating as a stand-alone company in the Canon Group. Milestone technology is easy to manage, reliable and proven in thousands of customer installations, providing flexible choices in network hardware and integrations with other systems. Sold through partners in more than 100 countries, Milestone solutions help organizations to manage risks, protect people and assets, optimize processes and reduce costs. For more information, visit: http://www.milestonesys.com.
SOURCE Milestone Systems